A deep dive into Asian Paints Ltd. (ASIANPAINT) — examining the financials, valuation picture, and who owns the stock.
Asian Paints Revenue Trend
Year-over-year, Asian Paints Ltd.'s revenue fell 4.7% from ₹36,183 Cr to ₹34,478 Cr in FY2025.
Over the past 10 years, revenue has grown at a 9.3% CAGR, from ₹14,183 Cr to ₹34,478 Cr. Decent growth, though not exceptional.
With a top line of ₹34,478 Cr, Asian Paints Ltd. operates at a major scale within the paints sector.
| Year | Revenue | YoY % |
|---|---|---|
| FY2025 | ₹34,478 Cr | -4.7% |
| FY2024 | ₹36,183 Cr | +4.9% |
| FY2023 | ₹34,489 Cr | +18.5% |
| FY2022 | ₹29,101 Cr | +34.0% |
| FY2021 | ₹21,713 Cr | — |
View Asian Paints Ltd.'s full 10-year revenue trend with CAGR analysis →
Asian Paints Profitability
Asian Paints Ltd. saw net profit contract 33.3% to ₹3,710 Cr in FY2025, down from ₹5,558 Cr in FY2024.
Net margin slipped from 15.4% to 10.8% in FY2025 — a sign of thinning profitability.
On a per-share basis, diluted earnings were ₹38.25 in FY2025 versus ₹56.94 in FY2024.
Is Asian Paints Undervalued
Running the numbers through the P/E Ratio model gives a fair value of ₹2,790 for Asian Paints Ltd..
Asian Paints Ltd. shares are currently trading at ₹2,662.40.
Craytheon also calculates intrinsic value using the EPS Growth and DCF models. The full breakdown with assumptions is available in the detailed analysis.
| Model | Est. Fair Value | vs. Current Price |
|---|---|---|
| P/E Ratio | ₹2,790 | 4.8% upside to fair value |
| EPS Growth | Upgrade | Upgrade |
| DCF | Upgrade | Upgrade |
See all valuation models for Asian Paints Ltd. with detailed assumptions →
Asian Paints Shareholding Pattern
Promoter holding is steady at 52.6% — no buying or selling over the past 4 quarters.
Foreign investors held 12.1% of the company as of March 2026, up year-over-year from 11.8%.
Domestic institutional investors (DIIs) held 21.8% as of March 2026, up from 21.0% a year ago.
| Quarter | Promoter | FII | DII | Public |
|---|---|---|---|---|
| Mar 2026 | 52.6% | 12.1% | 21.8% | 13.4% |
| Dec 2025 | 52.6% | 12.8% | 21.1% | 13.4% |
| Sep 2025 | 52.6% | 11.6% | 21.6% | 14.1% |
| Jun 2025 | 52.6% | 11.8% | 21.0% | 14.4% |
Track quarterly shareholding changes for Asian Paints Ltd. →
Asian Paints Balance Sheet
Proportional view as of 3 Jun 2026. Hover blocks for details.
Assets
Liabilities & Equity
In FY2025, the total asset base came in at ₹303.71B, up 1.5% YoY from ₹299.24B.
Property, Plant & Equipment accounts for 26.5% of the total, ahead of Inventories (22.1%) and Other Assets (17.1%).
Capital structure: 66.0% equity, 7.5% debt, 26.4% operating liabilities. Over the year, debt is down 7.4% and equity is up 3.3%.
Balance sheet composition — FY 2025
| Category | Value |
|---|---|
| Cash & ST Investments | 40.27B |
| Receivables | 43.14B |
| Inventories | 67.19B |
| Property, Plant & Equipment | 80.42B |
| Investments | 14.80B |
| Intangibles & Goodwill | 5.89B |
| Other Assets | 52.01B |
| Category | Value |
|---|---|
| Equity | 200.59B |
| Short-term Debt | 9.07B |
| Long-term Debt | 13.83B |
| Trade Payables | 38.48B |
| Other Liabilities | 41.74B |
Asian Paints Key Highlights
What should investors take away from Asian Paints Ltd.'s (ASIANPAINT) latest numbers? Here's the summary.
Revenue of ₹34,478 Cr in FY2025, down 4.7% year-over-year.
Long-term revenue has been compounding at 9.3% annually over 10 years.
The company is profitable, with a net margin of 10.8% and net income of ₹3,710 Cr.
The P/E Ratio model implies 4.8% upside to fair value from the current price. The remaining two models are worth cross-checking before drawing a conclusion — sign up to see the full analysis.
Unlock Full Analysis
Want to dig deeper? Craytheon's platform provides 10 years of financial data, three valuation models, and insider trading activity for Asian Paints Ltd..